Industry groups develop plans to fund TAA

The Thoroughbred Aftercare Alliance (TAA) announced Thursday that several
industry groups, including 13 prominent breeding farms in Kentucky, The Jockey
Club, two racetracks of the Stronach Group, the California Retirement Management
Account (CARMA), Keeneland Association, Fasig-Tipton, Barretts Equine Limited
and Ocala Breeders' Sales Company (OBS), have developed plans to provide funds
beginning in 2013 to support the TAA's mission to accredit and raise funds for
Thoroughbred aftercare facilities.

"This is an important first step, and we are grateful to these organizations
for their commitments," said Jack Wolf, president of the TAA. "We are hopeful
other industry stakeholders will follow their lead in this important endeavor."

Based in Lexington, Kentucky, the TAA is designed to serve as both the
accrediting body for aftercare facilities that care for Thoroughbreds following
the conclusion of their racing careers and a fundraising body to support these
approved facilities. The organization is comprised of owners, trainers,
breeders, racetracks, jockeys, aftercare professionals and other industry
groups.

The TAA received seed money from Breeders' Cup Ltd., The Jockey Club and
Keeneland Association and some of those funds will be used for initial site
inspections and accreditations planned for the last few months of 2012.

"Our objective is to develop sustainable funding from all points on the life
cycle of the Thoroughbred from breeding and registration to sales, racing and
all points in between, including veterinary care and transportation," TAA
Executive Director Mike Ziegler said. "Thanks to the seed capital generously
provided by Breeders' Cup, The Jockey Club and Keeneland Association, and
ongoing administrative and technical support from the National Thoroughbred
Racing Association and The Jockey Club, virtually all of our 2013 contributions
will be directed straight to the horses -- which is as it should be."

The details of the funding are as follows:

Thirteen prominent Kentucky breeding farms have pledged to the TAA a
payment in the amount of 25 percent of each of their stallions' advertised
stud fee, effective with the 2013 breeding season. Breeders' Cup Limited (BCL)
has agreed to facilitate the collection of fees contributed by all stallion
owners. BCL will also implement a fan contribution initiative surrounding
the November 2-3 Breeders' Cup World Championships at Santa Anita Park.

The Jockey Club (TJC) announced that starting in 2013 it will increase
fees by $25 for nearly all registry related transactions including foal
registration, naming and import and export applications. In coordination
with The Jockey Club of Canada, funds raised from Canadian customers of The
Jockey Club will be directed to Canadian Thoroughbred aftercare
organizations to supplement ongoing aftercare activities for Canadian
Thoroughbreds. The Jockey Club will also contribute $300,000 in 2013 to the
TAA from its commercial companies and will maintain the voluntary retirement
checkoff option on foal registrations for owners and breeders to continue
those Thoroughbred aftercare contributions.

CARMA (California Retirement Management Account), founded in 2007 to
raise money for retired California racehorses, confirmed that it is
directing funds earmarked for California-based organizations and facilities
that meet the TAA's accreditation guidelines. In 2013, CARMA expects to
grant in excess of $400,000.

The Stronach Group and its tracks -- Santa Anita Park in Arcadia,
California, and Gulfstream Park in Hallandale Beach, Florida -- have
confirmed that they are earmarking funds for organizations in California and
Florida that meet the TAA's accreditation standards. In 2013, it is expected
that in excess of $200,000 will be granted.

Keeneland, Fasig-Tipton, Barretts and OBS, beginning with the 2013 sales
calendar, will enable buyers and consignors to automatically contribute .05
percent of their respective purchases or gross sales directly to TAA. The
sales companies will contribute an additional .05 percent from their gross
sales receipts as well. For those who do not wish to participate in the
program, there will be a voluntary opt-out provision.

In addition, the TAA board announced that it has met in recent weeks to
discuss sustainable fund-raising strategies with a broad cross section of
industry organizations including Breeders' Cup, New York Thoroughbred Horsemen
Association and owners of stallions standing in New York, California and
Florida.

Meetings with racetracks and other trade associations -- representing
jockeys, regulators, trainers and owners -- will be held later this year to
encourage the broadest possible participation.

"Everything we do in this industry begins and ends with the horse," said
Jimmy Bell, president of Darley America. "It's time for the industry to make a
tangible, long-term commitment to Thoroughbred aftercare, and I am proud of
these 13 stallion farms in central Kentucky that have done just that."

"We are proud to support the Thoroughbred Aftercare Alliance and feel
strongly about its mission," said James L. Gagliano, president and COO of The
Jockey Club. "These very modest financial commitments at various checkpoints in
a Thoroughbred's career will make a significant difference in giving our equine
athletes the lives and second careers they deserve after their racing days are
over."

"We feel that establishing an automatic mechanism by which to fund aftercare
is both the right thing to do and the only way to do it right," President of
Fasig-Tipton Boyd Browning remarked. "Our customers on both sides of every
purchase share a common love for Thoroughbreds, and this systematic approach
makes it easy for all to do their part in a fair and equitable manner."

"The fundamental principle behind this initiative, and our entire industry,
should be to do what is best for the horse," stated Bill Thomason, president/CEO
of Keeneland Association. "That is truly the impetus behind our willingness to
not only provide seed capital to this organization, but also be a sustaining
member with the widespread support of our consignors and buyers, to ensure there
is a continued emphasis on aftercare, new careers and other programs for our
very special athletes."

"We are proud to support the TAA," said Kim Lloyd, general manager of
Barretts Equine Limited. "We want to do right by the horses. They are at the
heart of everything we do."

"OBS is delighted to join the many industry organizations stepping up on
behalf of Thoroughbreds," OBS President Tom Ventura remarked. "We are pleased at
the breadth of commitment being demonstrated today."

"As one of the initial funders for the Thoroughbred Aftercare Alliance,
Breeders' Cup supports the development of an industry-wide, annually funded
program committed to the placement or second-career retraining of retired
Thoroughbreds on a national scale," added Bob Elliston, COO of Breeders' Cup
Ltd. "Thoroughbreds deserve to be treated in a dignified manner throughout their
lives."

"We believe strongly in the mission and spirit that is guiding the
Thoroughbred Aftercare Alliance," concluded Mike Rogers, president of The
Stronach Group. "The TAA represents a unique opportunity for our industry to
work together in providing second careers and aftercare to these extraordinary
athletes. It also is another step in insuring that every Thoroughbred will be
treated with dignity and decency throughout its entire life."